Max India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 11, 2008, has approved the joint venture arrangement with BUPA Finance Plc., UK for setting up a health insurance Company (JV), in India, with 50% equity participation by Max India Ltd. The initial share capital of the JV will be Rs 100 crores. Bupa group will have a 26% shareholding in the JV while the balance 24% will be held by Mr. Analjit Singh and his family through certain intermediate Companies.
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